Terminal Value

Home > Other > Terminal Value > Page 3
Terminal Value Page 3

by Thomas Waite


  “Damn!” he said to no one in particular. “I can’t believe we’re getting a storm like this right after I bought this beauty. That ass in the KIA almost slammed into me!”

  He stood back and looked at the car, dabbing here and wiping there to remove every vestige of snow from its shiny exterior. “Yeah, a magnet, for sure!” He reopened the trunk, laid the cloth flat on the carpet inside to dry, and locked the car.

  He hurried through the cold garage to the far side of the building, where he rang for the old service elevator. It lumbered slowly down toward him. He pushed the button for the fourth floor, and as the elevator began its crawl up, he fingered the car keys in his pocket and smiled.

  The elevator stopped at the fourth floor and Rob exited, turned left, and walked to his office. The storm had left the bullpen almost empty, except for the few brave souls who lived close to the building. Rob looked around at those who now worked double assignments. Every day, as the date of the official announcement of the acquisition approached, he knew there could be no mistakes, no last-minute problems that might arise and upset the final deal. He had not worked this long and hard to watch everything fall around him.

  He entered his office, removed his silk scarf and camelhair coat, carefully hung them up in the closet, and rubbed his hands together to ward off the final remainder of cold. He ran his fingers through his blond hair, turned on his computer and saw three messages—Heather, Dylan, and Molly—his secretary. He dialed Molly.

  * * *

  February 15, 10:00 a.m. Boston

  Heather scanned the multiple flat-panel displays on a table that occupied much of her office, scrutinizing the various designs. Tony and Matt stood on either side of her, following the graceful line made by her slender finger as she drew their attention from one design to another.

  “I like this one best, but you two have to select maybe three designs to present to Joe Ferrano. Hyperfōn is his baby, and he will have to make the final decision on the overall appearance of these tiles.”

  Matt leaned forward and studied all of the samples on the screens. “I agree with you. I think this one is the best, but there are going to have to be a lot of tile styles once this thing gets moving, so we do want to present him with some initial choices and still have a lot of designs as backup.”

  “Hey, you guys, I leave this decision up to you. I’m the geek, remember?” Tony remained removed from the two of them, but kept his eye on the displays.

  Heather and Matt looked at each other, then at him. Heather laughed. “Yeah, right. Like you wouldn’t put your two cents worth in if you didn’t agree. Seriously, Tony, we all have to be in agreement on this. Joe’s been really cool about letting us go with our ideas and not hovering over us, but he’s no fool. If we don’t give him something exceptional, he’ll nail it immediately.”

  Tony nodded in agreement. “Of course, you’re right. I don’t disagree with anything you’ve got here. Have you talked to Dylan or Rob about these choices?”

  “Not yet. I wanted some strength in numbers. If you guys don’t agree with me, then I have to go back to the drawing board.” She looked at her watch and then let her eyes wander over to the computer on her desk.

  Tony caught her glance. “So why don’t you call one of them? I saw Dylan earlier this morning when he arrived. Haven’t seen Rob yet. Have you?”

  It was an awkward moment. Tony knew Heather and Rob were an item, but the atmosphere around them recently seemed cool. He hated getting into personal lives and avoided asking the obvious questions. Now he felt intrusive.

  Heather smiled. She knew what was going through his mind. “No, I haven’t heard from him. He told me he was picking up a new car last night, so I expect he will be driving very carefully, if you know what I mean.” She nodded toward the window where enormous snowflakes clumped and slid down, pulled by their own weight.

  Tony changed the subject. “Okay, I think we agree with you on the best designs to present to Joe. Let me know when you talk to Dylan and Rob, then e-mail me the designs, and I’ll put them in the presentation folder. In the meantime, we’ll leave you and get back to our other projects.”

  Heather knew what Tony meant by “other projects.” He always kept one step ahead of technology, and although she did not know what he was working on, she was sure it would be huge and he would tell them about it when the time was right. She did not question him.

  “Right. I’ll probably get back to you later today.” She walked them to the door and listened to their conversation until they disappeared down the hallway toward their offices. She looked at her watch again. Ten-thirty, and she still had not heard from Rob. Their conversation the night before had been terse, and she regretted sticking her nose into his business, but she felt the car purchase was premature. He made a point of telling her, in very short sentences, that it was not her business, and their conversation ended abruptly.

  Heather walked to the end of the hallway and looked around the corner. At the other end of the hall, she saw Rob in front of his office. His back was to her, but she noticed the very pretty Molly standing by him, laughing. She watched as Rob touched her lightly on the shoulder.

  * * *

  February 15, 10:30 a.m. Boston

  Dylan looked up at the sound of a knock. He did not often close his door, except during a meeting, so it startled him that someone would knock.

  “Hey, got a minute?” Tony said, walking in without being invited.

  “For you? Always. What’s up?”

  Tony hesitated. “Have you given the Mantric people any access to our files?”

  Puzzled, Dylan shook his head. “No. Why would I do that? What’s up?”

  Tony sat down across from him and took a deep breath. “There are just so many people here, total strangers showing up, asking questions. It just feels odd.”

  Dylan looked at his friend for a moment in silence. “Tony, what’s up?” he asked again.

  “It’s probably nothing, but several times over the past few weeks, since the Mantric group has been here, I’ve sensed that someone has been meddling with files. My major project is Hyperfōn, and a few times I’ve felt like things in the files have been out of order, or someone has accessed them. I’ve waited to tell you, thinking it was just my imagination. Matt doesn’t know anything about it, and I’m sure if you or Rob were doing anything, you’d let me know.”

  “Well, I certainly haven’t had the time to do anything other than focus on the transition. Is there anything missing?”

  “No, not that I can tell. It just doesn’t feel right when I go into the file. This is a really important account, and I want to be sure nothing goes wrong. Do you think any of their techno-geeks could have hacked in?”

  Dylan sat forward and thought about Tony’s words. “I can’t imagine why they would do that. Hyperfōn and all of our other clients are becoming part of Mantric, and there will probably be a lot more people with access. I’ve confirmed with Art that you’re the primary and Matt the secondary on that account, and he’s agreed you two are the best ones to handle it because of your experience and your relationship with Joe Ferrano.”

  Tony sat back and nodded. “Yeah, you’re probably right. I guess I’m just anxious about this whole thing. It’s pretty important to all of us.”

  “Thanks for asking about this, Tony, but I really don’t think we need to worry.”

  He smiled and left the room. Dylan sat back and wondered.

  Chapter 5

  March 5, 8:30 a.m. New York

  It was an unusually warm day for early March in Manhattan. People were dressed more for spring than for winter, bringing a smile to Dylan’s face as he walked through the maze of high-rise buildings.

  Mantric’s New York headquarters occupied five floors of a forty-six-story green glass skyscraper located in downtown Manhattan on West 19th Street, not far from the Hudson River. The company shared the building with an assortment of financial services and management consulting firms. With its modern
design, sleek furnishings, and river views, it made MobiCelus’s Boston office look like little more than the run-down factory it was.

  Gossipy stories about the firm’s beginnings were the talk of the technology world. CEO Art Williams had pitched Mantric’s first deal to a major global insurance firm. Although everything Art described was essentially hypothetical, the insurance firm bit anyway, heady at the thought of the money to be made in the “clouds,” so to speak, and in thirty days he had assembled a staff of nearly 500 low-cost Indian software engineers to launch the project. True to form, Williams also hired a publicist to play up the win and the enormous cost reductions the insurance firm would realize. It worked, and Mantric’s phones rang off the hook.

  Now, the firm had grown to some 10,000 employees around the world, including India and China. But the two-year-old company had a mixed reputation. Its innovative new client solutions, incorporating technologies such as cloud computing, made it a business media darling by leveraging low-cost labor to achieve huge savings for clients and equally huge profits for Mantric. But liberal politicians and the public media lambasted the firm for shipping thousands of U.S. jobs overseas and for incorporating itself in tax-friendly Bermuda. Nevertheless, its success was real and its IPO imminent.

  Dylan stepped into the elevator. The doors closed behind him, and the voice sensor blinked in acknowledgement as he announced, “Twenty-fifth floor.” He smiled, remembering his bewilderment the first time he rode this elevator. Had another passenger not entered directly behind him, it could have been embarrassing as he searched for a way to make it rise.

  The elevator glided smoothly up to the twenty-fifth floor, and when the doors opened, Dylan stepped into the reception area: a virtual shrine to the very latest technological marvels—from a 3-D high-definition screen that occupied nearly an entire wall to a voice-activated computer consisting of nothing more than a razor-thin flat HD panel.

  Stenciled on the wall across from the reception desk were famous quotes from visionaries like Gordon Moore, the Intel cofounder who, back in 1965, stated his famous law that the number of transistors that could be placed on an integrated circuit or chip would double approximately every two years while the cost of a given amount of computing power would fall by 50 percent. At the time, Moore was thought to be crazy, but his prediction proved to be spot-on.

  Silence ruled in the reception area, where thick carpets absorbed all sound, and the absence of human beings grabbed the visitor. Dylan walked over to a wall-sized screen displaying a rotating art collection, where an attractive female avatar appeared.

  “Welcome, Mr. Johnson.” A female voice spoke with a faint metallic ring. Soft music played in the background as she announced, “Mr. Williams will be with you momentarily.”

  Dylan found this “Big Brother” welcome somewhat disconcerting.

  “While you are waiting,” the avatar continued, “I will update you on how we are doing.”

  The avatar evaporated, replaced by a slowly spinning globe where the continents looked like integrated circuits. The globe began to pick up speed until it became a whirling blur that finally exploded to reveal the Mantric logo. The avatar’s voice resumed, “In two short years, Mantric has grown faster than any other technology company in history.” The logo pixelized into multicolored floating currencies that dribbled down into an enormous pile on the screen. “To date, our clients have saved over twenty billion dollars by entrusting their technologies to us.”

  “Hello, Dylan,” a deep baritone voice called from behind, and Dylan spun around to find Art Williams walking toward him with a beaming smile and outstretched hand. At five feet ten inches tall and with a round protruding belly, the fifty-one-year-old did not look the part of a successful CEO. Streaks of gray wandered through the disheveled brown hair that brushed lightly across his collar. He wore the attire of technology geeks twenty-five years his junior. In his dark gray mock turtleneck pullover, blue jeans, and Nike running shoes, nobody would confuse Art Williams with the cool young techies he apparently aspired to be. Dylan mused that the costume didn’t work.

  “Pretty impressive, huh?” Art remarked as he motioned toward the screen.

  “Very,” said Dylan, attempting to hide his continued discomfort at the “Big Brother” effect.

  “Come,” Art said, taking Dylan’s shoulder. “The team is waiting for you.”

  They entered the conference room where the executive committee had assembled, as well as Frank Crowley, Mantric’s master internal technologist, who would be handling the virtual worldwide meeting. Art directed Dylan to a seat at the middle of the table.

  “Dylan, I think you’ve already met a few of these people, but let’s go around the table and have everybody introduce themselves.”

  Christine Rohnmann, tall and slender, with short brown hair cut in severe layers, was dressed in an expensive, conservative pinstripe suit. She wore a small pearl choker and pearl and diamond earrings—her statement of wealth, class, and control. After she had guided ProTechSure through the stages of going public, she earned her reputation as the female version of Attila the Hun and became Art’s trusted first lieutenant. She was about to do the same at Mantric, cementing her role in the company.

  “Hello, Christine,” Dylan said politely. “Good to see you again.”

  She nodded, did not look at him, and said nothing.

  “Hello, Dylan,” said an Indian man who got up, walked over to him, and shook his hand. “I am Sandeep Nigam, Chief Technology Officer. It’s a great pleasure to meet you. I admire the work you have been doing, and I’m very happy you are now part of our team.”

  “It’s a pleasure to meet you. Tony Caruso speaks highly of you and your work.” Dylan shook Sandeep’s hand, wondering if he should have stood up as well. He observed that the wrinkled white button-down shirt, faded jeans, and Nikes that Sandeep wore worked, in this case, just fine.

  “I return the compliment. He is quite brilliant.”

  He sensed a lack of enthusiasm in Sandeep’s words, but wondered if it was just the heavy accent. Dylan watched the soft-spoken twenty-nine-year-old Indian, with hair so black it was almost blue and dark eyes that hovered between sad and humorous, and wondered how misleading appearances might be. Something about Sandeep set an uncomfortable tone, but Dylan could not put his finger on it.

  Across the room away from the doorway, Ivan Venko, Mantric’s Chief Security Officer, stood in absolute contrast to Sandeep. Ivan, pale and matchstick thin, was dressed totally in black—black suit, black turtleneck sweater, black shoes highly polished enough to reflect things in close proximity. In this digital world, he was responsible for keeping all Mantric’s data secure. His pockmarked face, slicked-back hair, and constant scowl gave him a mysterious and unpleasant air. A headset curled around his left ear and extended halfway along his jaw. He had been trained as a security specialist in Prague, which in those days meant working for the Slovak Intelligence Service, or SIS: an organization accused of kidnapping, torture, and most infamously the assassination of Róbert Remiáš, a key figure in the trial against the SIS for the kidnapping of the president’s son. Rumor had it that, following the break-up of Czechoslovakia in 1993, Ivan had fled the new republic to avoid retribution from the now-free Slovaks. Ivan made no attempt to move forward to meet Dylan, but remained away from the group, his dark eyes quickly glancing around the room in search of any problems.

  One person remained at the table, and before she could speak, Art stepped in and introduced her. “Dylan, I’d like you to meet Stephanie Mathers, our Chief People Officer.” At forty-one, Stephanie stood out like a sore thumb. She was short and overweight, and her hair was bleached several shades too light; the jacket of her business suit was one size too small and pulled tight over her ample chest.

  “Welcome to Mantric,” she said, shoving her hand toward Dylan with a bit too much enthusiasm. “I’d love to tell you all about the really special culture we have created here. We’re all really, really looking forwar
d to working with you and your staff. And if there is anything I can do—”

  “Okay then,” Art interrupted abruptly, cutting off the conversation. “Frank, let’s get things started.”

  Since Mantric employees were scattered across three continents, the meeting was conducted over an encrypted virtual private network, or VPN, eliminating the possibility of access by any outsider.

  Frank adjusted Art’s chair to make sure Art was in view of the mini-cam perched on the table. Art sat down in front of his laptop, and the minor adjustment to his chair gave him the appearance of being taller than he was. He gave the nod to begin.

  “Hello everyone,” Art said. “You all know why we’re gathered here today, but I want to make it official. I am very happy to let you know the initial registration with the SEC has occurred, and we now expect to go public with our IPO the week of May second. I have no doubt we will absolutely be the hottest offering in our sector.”

  Cheers resounded throughout the room and through the monitors.

  “I don’t need to remind you that, given our stock option plan, each of you watching or listening to me today have a—well, let’s just say you all have a strong incentive to hear the details of our offering.” Knowing chuckles erupted. ”So here they are. We’ve filed to offer three million shares of common stock, and we expect the initial offering price to be between ten and twelve dollars per share.”

 

‹ Prev